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Im not doing aim anymore, this year im building a dividend portfolio instead
At first glance I thought 2p was outrageous. However thinking about it a 30% discount to current share price when the new shares will be worth about 25% less due to the dilution is not so bad.
Agree with all the comments this morning.
2p is low and pretty disappointing. Also, I wasn’t aware of the £1.7 PAYE arrears with HMRC. Must have missed that.
I don’t mind placings as long as they’re being used for the right reasons. From what I’ve read this morning this placing falls into that category.
Taking everything into account I still remain positive.
Particularly this statement -
“The Board is anticipating a further increase in revenue of between 15% and 20% and profit after tax of between GBP0.8 million and GBP1.0 million in FY24. The Group has the installed capacity to grow organically to an estimated GBP45-50 million in revenue with limited requirements for further large-scale capital investment.”
If you remember, last month, I posted a very basic 5/6 year history of performance. In the last 5/6 years the highest revenue figure occurred in 2018 -
2018 - Turnover £37.7m - Profit before tax £0.4m - Share price £0.815.
So, if we can grow revenue to the figures quoted today, then we’ll be outperforming 2018. The sp back then was 81p. Now obviously the landscape has changed since then. For instance, a lot more shares are in issue. Also, decent revenue is all well and good but we need strong profit. Taking everything into account I’m still optimistic that this will come good. I don’t think we’ll hit 81p any time soon, but as I’ve said before I feel 20/30p in the medium to medium/long term is certainly achievable
GLA
Not needed at all IMO. Sale and leaseback of both properties completed with only some of the proceeds used to pay off the pension deficit.
Cheap shares for TB and others, averaging themselves down and diluting the rest of us.
HarryCaul,
Good point.
Agree.
Yes
TB was never going to pay up for stock.
This is on the recovery path now, and he's averaged down.
Gutted of course as we've been diluted yet again.
Disappointed 2p is low
Yes, money goes to money! Testing our patience: "This time next year, Rodney..."
Such a steep discount does feel like a kick in the nuts for regular shareholders :(
Great to see the trading news in today's RNS, which indicates a PAT of £0.8m-£1m for this year to Nov'24, and revenues up by 15%-20%.
Which makes the price of the new £0.83m placing particularly hard to swallow. With Trevor Brown investing a further £70k and First Equity a further £220k, taking their holdings to over 41% of the company between them, there's obviously distinct optimism about the direction of the company. And makes this placing simply "shares for the boys/insiders".
It's always best to have spare cash in hand, and with all the contract wins and working capital requirements I don't blame CMH for topping up their reserves. But surely a 2.5p-2.7p price should have been achievable.
That's the markets for you.
Yeah bad price. On well to the bottom of the drawer this goes
Looks like a nice 350k buy has gone through from earlier today.
Perfectly happy with that .
So whilst H1 to 30/11 might be ever so slightly lagging, most importantly all divisions are trading well with "strong" order books, and CMH expect to meet expectations. No doubt boosted by RDC as previously reported.
Current expectations from Cavendish are for £24.0m revenues, £1.3m adjusted EBITDA and 0.6p EPS.
Not the biggest trading update but all on track -
Kevin Price, Chief Executive Officer of Chamberlin, commented: "I am pleased to report that operational performance in the first half of the financial year has been broadly in line with the Board's expectations. The current order books across all three trading divisions are strong and will support performance in the second half of the financial year. Therefore, the Board believes the Group remains on track to meet market expectations for the year ending 31 May 2024.”
They must’ve been listening. Just had an email about an RNS. AGM and trading update. Will have a look through it now
Isn’t it usual practice to have an RNS after an AGM, unless it’s still going on?
Lawrmyer2, go to Chamberlin PLC website and download the 2023 Annual Report. It's on page 73.
I can’t find anything saying the AGM is today. Have you got a link Rivaldo?
Trade price was 2.60 so it was a sell.
Big 275,000 trade late on. Can’t work out if a buy or sell
When , where was this announced?
Afternoon Guys is there any live streams tomorrow off the AGM, and what's the start time please?